Shapoorji Pallonji Group, which is involved in a legal battle with the Tata group, chose a more conciliatory approach at the Tata Sons virtual annual general meeting (AGM) on Tuesday as shareholders approved ₹40,000-crore fundraise via bonds and non-convertible debentures.
SP Group, which holds an 18.4% stake in Tata Sons through Cyrus Investments and Sterling Investment Corporation, appreciated the performance in some Tata companies, particularly the turnaround of passenger vehicle business in Tata Motors NSE 0.39 % under Shailesh Chandra, at the AGM, people aware of the development said.
